A Belleville man has filed a class action lawsuit against the managers of an O’Fallon apartment complex for allegedly not paying interest on security deposits.
Kyle Oller, individually and on behalf of a group of others, filed a class action complaint Aug. 24 in St. Clair County Circuit Court against Concord Management Ltd.
According to the complaint, Oller signed a year-to-year lease for an apartment managed by Concord in 2007. Oller says he agreed to rent a two bedroom unit at the Fairfield Place Apartment Complex. Oller claims Concord required a security deposit for the apartment, which he says he paid.
Oller contends that Illinois state law mandates that any company that collects a security deposit on a complex containing 25 or more units and holds that deposit for more than six months, is required to pay interest to the tenant on that deposit. Oller says Concord kept his deposit for more than six months but did not pay him interest on that deposit.
The class accuses Concord of violating Illinois’ Security Deposit Interest Act and breach of contract. It asks for an undetermined amount of money in statutory damages plus interest and court costs.
The group is represented by attorney David I. Cates of Swansea.
St. Clair County Circuit Court Case No. 12-L-442